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Electronic Code of Federal Regulations

e-CFR data is current as of April 3, 2020

Title 13Chapter IPart 123Subpart A → §123.16


Title 13: Business Credit and Assistance
PART 123—DISASTER LOAN PROGRAM
Subpart A—Overview


§123.16   How are loans administered and serviced?

(a) If you obtained your disaster loan from a participating lender, that lender is responsible for closing and servicing your loan. If you obtained your loan directly from SBA, your loan will be closed and serviced by SBA. The SBA rules on servicing are found in Subpart H of this part and part 120 of this chapter.

(b) If you are unable to pay your SBA loan installments in a timely manner for reasons substantially beyond your control, you may request that SBA suspend your loan payments, extend your maturity, or both.

[61 FR 3304, Jan. 31, 1996, as amended at 75 FR 60598, Oct. 1, 2010]

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